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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
OPERATING ACTIVITIES    
Net loss $ (140,000,000) $ (8,303,000,000)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 2,198,000,000 2,234,000,000
Net loss on sale of business 17,000,000 112,000,000
Goodwill impairment 0 8,793,000,000
Deferred income taxes (6,000,000) 38,000,000
Provision for uncollectible accounts 54,000,000 77,000,000
Net gain on early retirement of debt (277,000,000) (618,000,000)
Debt modification costs and related fees (80,000,000) 0
Gain on sale of investment (205,000,000) 0
Unrealized loss on investments 10,000,000 96,000,000
Stock-based compensation 21,000,000 39,000,000
Changes in current assets and liabilities:    
Accounts receivable 39,000,000 3,000,000
Accounts payable (212,000,000) (147,000,000)
Accrued income and other taxes 440,000,000 (996,000,000)
Other current assets and liabilities, net 264,000,000 (196,000,000)
Retirement benefits (185,000,000) (9,000,000)
Change in deferred revenue 1,572,000,000 161,000,000
Changes in other noncurrent assets and liabilities, net 185,000,000 33,000,000
Other, net (50,000,000) 59,000,000
Net cash provided by operating activities 3,645,000,000 1,376,000,000
INVESTING ACTIVITIES    
Capital expenditures (2,316,000,000) (2,279,000,000)
Proceeds from sale of business 15,000,000 3,000,000
Proceeds from sale of property, plant and equipment, and other assets 283,000,000 35,000,000
Other, net 19,000,000 9,000,000
Net cash used in investing activities (1,999,000,000) (2,232,000,000)
FINANCING ACTIVITIES    
Net proceeds from issuance of long-term debt 1,325,000,000 0
Payments of long-term debt (2,069,000,000) (145,000,000)
Net (payments) proceeds on revolving line of credit (200,000,000) 75,000,000
Dividends paid (3,000,000) (10,000,000)
Debt issuance and extinguishment costs and related fees (282,000,000) (14,000,000)
Other, net (12,000,000) (7,000,000)
Net cash used in financing activities (1,241,000,000) (101,000,000)
Net increase (decrease) in cash, cash equivalents and restricted cash 405,000,000 (957,000,000)
Cash, cash equivalents and restricted cash at beginning of period 2,248,000,000 1,307,000,000
Cash, cash equivalents and restricted cash at end of period 2,653,000,000 350,000,000
Supplemental cash flow information:    
Income taxes refunded (paid), net 425,000,000 (1,289,000,000)
Interest paid (net of capitalized interest of $130 and $75) (877,000,000) (886,000,000)
Supplemental noncash information regarding financing activities:    
Cancellation of senior unsecured notes as part of exchange offers (Note 5) 0 (1,554,000,000)
Issuance of senior secured notes as part of exchange offers (Note 5) 0 924,000,000
Cash, cash equivalents and restricted cash:    
Cash and cash equivalents 2,640,000,000 311,000,000
Cash and cash equivalents and restricted cash included in Assets held for sale 0 28,000,000
Restricted cash included in Other current assets 2,000,000 0
Restricted cash included in Other, net noncurrent assets 11,000,000 11,000,000
Total $ 2,653,000,000 $ 350,000,000